Enova International Acquires OnDeck
July 28, 2020
Enova International has agreed to acquire all outstanding shares of OnDeck in a cash-and-stock transaction valued at approximately $90 million, representing a meaningful premium to OnDeck's recent trading levels. The deal combines Enova's consumer and small-business lending platform with OnDeck's online small business lending franchise and ODX bank platform to create a larger fintech platform with expanded scale and product capabilities.
- Buyers
- Enova International
- Targets
- OnDeck
- Sellers
- OnDeck shareholders
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Buyout
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